Can Forerunner 245 work with Edge 540 bundle?

I have two questions really. I have been doing more cycling and less running. I really would like to get a Vo2Max read, but do not want to jump into expensive Power meters and cycling shoes.

I have currently a Forerunner 245, and per the manual of the Edge 540 they should work together. Is this true? Is anyone using this combo?

My other question is, can the Edge 540 + HRM, speed and cadence sensors add up to calculate my Vo2Max? This doesn't seem like an easy answer to find anywhere, BUT it would make sense that Vo2Max could be measure out of this bundle?